Lennar Corporation (NYSE:LEN) Shares Sold by Diversified Trust Co

Diversified Trust Co cut its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 53.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,038 shares of the construction company's stock after selling 3,522 shares during the period. Diversified Trust Co's holdings in Lennar were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LEN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Lennar during the fourth quarter valued at about $218,533,000. Wellington Management Group LLP grew its holdings in shares of Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock valued at $441,769,000 after purchasing an additional 515,378 shares in the last quarter. D1 Capital Partners L.P. increased its stake in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after buying an additional 270,433 shares during the period. Man Group plc lifted its holdings in Lennar by 112.5% during the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after buying an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Lennar by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Wedbush reiterated a "neutral" rating and set a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Wells Fargo & Company lowered their price target on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Price Performance

NYSE LEN traded down $4.96 during trading hours on Friday, reaching $110.35. The company's stock had a trading volume of 3,163,101 shares, compared to its average volume of 2,715,093. The stock has a market cap of $29.11 billion, a PE ratio of 9.13, a PEG ratio of 4.54 and a beta of 1.33. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company's 50-day moving average is $108.89 and its two-hundred day moving average is $118.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. Lennar's revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.45 earnings per share. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. Lennar's dividend payout ratio is currently 16.54%.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.